Kuala Lumpur, 26 November 2015 – GuocoLand (Malaysia) Berhad (GuocoLand), the award-winning developer of Damansara City, an integrated multi-billion ringgit luxury development in the heart of Damansara Heights, today brought members of the media for an exclusive sneak peek tour to Damansara City Mall (DC Mall) that is considered one of the most anticipated lifestyle malls in the high-end luxury enclave in the Klang Valley.
“Damansara City Mall or DC Mall is Guocoland’s first foray in the development and management of a lifestyle mall. It is a milestone project that we at GuocoLand are proud of. This is a testament of our confidence in expanding our portfolio, as a result of years of experience in delivering award-winning quality development.” said Mr. Tan Lee Koon, Managing Director of GuocoLand Malaysia.
“DC Mall fulfils the promise that we have set forth for Damansara City – it being an integrated development that is all-inclusive to its residents and its surroundings. We hope to provide such integrated living experience across all GuocoLand properties in the future,” added Tan.
GuocoLand progressively shares updates on its flagship development with its stakeholders and today, in a special hard-hat tour, members of the media and tenants were given a preview on the future lifestyle hub of Kuala Lumpur, led by DC Mall’s Centre Manager, Christine Yeap.
DC Mall is a 4-storey lifestyle mall that has a gross floor area of 320,000 sq ft with a nett lettable area (NLA) of 190,000 sq ft. The mall has been strategically planned to house mainly restaurants, eateries and cafes with 70% of its NLA allocated for it. The move was a conscious step by GuocoLand to set itself apart from other malls within the surrounding area and recognising the urbanites great demand for a comfortable, spacious meeting and socialising point that offers variety. Apart from the F&B outlets, DC Mall will also house lifestyle retail outlets.
“Initially, the mall was intended to service the needs of the immediate community of residents and working population. Growing interest in Damansara City brought in increasing demand from local reputable F&B operators and retailers. Now, it has evolved into a lifestyle oasis which will be sustained by the greater community of Damansara Heights and Bangsar as well as being a central destination for the KL-PJ population.” said Yeap.
She further added, “There is an estimated 12,000 working population within Damasara City and its neighbouring Menara Milenium. There are also 28 commercial buildings and 7,000 households in Damansara Heights and Bangsar within a 5 minute shuttle ride adding up to about 100,000 population that will contribute to the success of DC Mall.”
Also present at the hard-hat tour was DC Mall’s designer, Nashzelima Ngadmin, Design Director of the award-winning Blu Water Studios who said, ”The mall’s design theme is based in the nature that was around this area before Damansara Height’s development. Taking inspiration from the earth, the Damansara River and the forest, each floor has a distinct theme that expounds its natural energy.”
With regards to the mall’s potential tenants, Yeap shared that the mall has received keen interest from various potential tenants who see the value of the high-income catchment area and the mall is being selective with its tenants as its NLA area is limited and they wish to offer a good selection of outlets to its patrons. “Our goal is to offer an unparalleled dining and entertainment experience for our diverse customer base so we are working with established operators looking to roll out new-to-market brands. We are looking out for more like-minded operators who understand the lifestyle expectations of this niche neighbourhood. With this in mind, as landlord, we will be taking an active role in the promotion of the Mall with signature events and interactive happenings. ”
Identified as one of the Entry Point Projects under the Malaysian Economic Transformation Programme, the overall Damansara City integrated development has already won two awards at the Asia-Pacific Awards 2012 namely the 5-Star Award in the Residential High-Rise Development Category and the Highly Commended Award in Retails Development Category ahead of its scheduled completion in early 2016. GuocoLand has also won several other top property and quality related awards as well as corporate recognition like the Runner-Up in the Best Profit Growth category at Focus Malaysia’s inaugural Best Under Billion Awards recently.
The RM2.5 billion development, which has come up on an 8.5-acre freehold site next to Pusat Bandar Damansara, comprises of two 28-storey residential towers, two Grade-A office blocks at 33 storeys and 19 storeys each, a five-star international hotel and a gourmet centric lifestyle mall. Hong Leong Group, one of the largest conglomerates in Asia, has in July 2015 confirmed to become the anchor tenant for the 33-storey office block.
Damansara Heights’ strategic location, which is a mere five kilometres from the Kuala Lumpur city centre, as well as its close proximity to KL Sentral, MRT station, and other established townships like Petaling Jaya, Bangsar and Mont Kiara, have always been its main selling point and greatest strength.
Damansara Heights has become a key target for investment among local and international buyers who are looking to invest in integrated high-end property in Kuala Lumpur. The substantial development of Damansara City by GuocoLand with its integrated inclusions is set to make the value of the location even more lucrative and high in demand.